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Jan 1, 2013
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president obama outlined that yesterday. these tax hikes are not enough for him. that he's going to go after more tax hikes. it's going to be the same discussion. the fact is we're just ceding more and more ground and more and more jobs, by the way, that young people need. so that's one of the things where i think house republicans get it, where at least i mean the majority of our caucus gets it where we're going to stand up against this plan because it's bad for young people, bad for our future, it's bad for the rest of america too. there was a great article in "the washington times" yesterday about why this plan and why plans like this are going to absolutely hurt and bankrupt our generation. i think there's at least a core group of republicans who are actually going to defend that and try to get a real solution done. something that addresses entitlement reform, that doesn't just tax people. this is a tax bill. this just raises taxes. and that's all it's doing. and the fact of the matter is grover norquist, this just shows how little power grover has. grover is
president obama outlined that yesterday. these tax hikes are not enough for him. that he's going to go after more tax hikes. it's going to be the same discussion. the fact is we're just ceding more and more ground and more and more jobs, by the way, that young people need. so that's one of the things where i think house republicans get it, where at least i mean the majority of our caucus gets it where we're going to stand up against this plan because it's bad for young people, bad for our...
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Dec 28, 2012
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the president on entitlement spending. speaker boehner on upper income tax rates. speaker boehner, though, could not get conservative republicans to go along and seemed at a loss on what to do next. >> we can't cut our way to prosperity. we need real economic growth. many of us believe on both sides of the aisle on the fundamental reform of the tax code will help us get our economy moving faster and put more americans back to work. and more americans on the tax rolls. how we get there, god only knows. >> president obama, meantime, seemed to lose patience. no sign he's eager to go off the cliff, but he's also not ready, either, to concede in his words what he'll get for free when the bush tax cuts expire tuesday morning. democratic lawmakers, though, are more willing to let that and everything else happen and both sides are still pointing fingers. take a look at mitch mcconnell and harry reid just this afternoon. >> you'll excuse me if i'm a little frustrated at the situation. >> republican leader finds himself frustrated. >> i say i'm frustrated because we have bee
the president on entitlement spending. speaker boehner on upper income tax rates. speaker boehner, though, could not get conservative republicans to go along and seemed at a loss on what to do next. >> we can't cut our way to prosperity. we need real economic growth. many of us believe on both sides of the aisle on the fundamental reform of the tax code will help us get our economy moving faster and put more americans back to work. and more americans on the tax rolls. how we get there,...
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Dec 29, 2012
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to avoid tax hike and spending cuts from taking effect. lisa desjardins is live on capitol hill. what's going on right now? >> reporter: right now it's all behind closed doors, martin. what we just have learned in the last hour, in fact, what reporters have seen here, a surprise. house speaker john boehner was here at the capitol. we're still trying to sort out exactly why he was here, but he wasn't here for very long, it seems. he left in the last hour. also, we were able to see some of senator mcconnell's staffers. i was able to speak to one of them coming in and out of these kind of closed-door planning meetings. he said they've been here since 9:00 a.m. they plan to work all day and we may see his boss, senator mcconnell, later today. that shows us kind of where things stand. i wanted to break this down simply because there's so much that complicates the story. let's look really quickly at a graphic of the basics, what's happening right now. here's where we stand with the fiscal cliff. first of all, who's doing the negotiating? ice the
to avoid tax hike and spending cuts from taking effect. lisa desjardins is live on capitol hill. what's going on right now? >> reporter: right now it's all behind closed doors, martin. what we just have learned in the last hour, in fact, what reporters have seen here, a surprise. house speaker john boehner was here at the capitol. we're still trying to sort out exactly why he was here, but he wasn't here for very long, it seems. he left in the last hour. also, we were able to see some of...
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Dec 25, 2012
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president obama spending christmas eve on the links in honolulu with friends. while lawmakers relax at home for the holidays. right now the senate looks like it might be the only hope for a compromise deal. can a deal be struck? white house correspondent brianna is traveling with the first family in honolulu, hawaii. hey, brianna, good morning. >> good morning, to you, it's been many silent nights actually in washington these days. not because there's nobody there to sort of figure out what's going on with the fiscal cliff but also, because folks really aren't talking. we know the white house is talking to senate democrats as we look to the senate as he reconvene on thursday, really, the last-ditch effort to try to do something. as of yet, congressional democrats in the white house are not talking with congressional republicans. that's even at the staff level. what we're expecting now is that the senate majority leader harry reid will try to get something together to get republican support in both the house and the senate. but what they're looking at now is a s
president obama spending christmas eve on the links in honolulu with friends. while lawmakers relax at home for the holidays. right now the senate looks like it might be the only hope for a compromise deal. can a deal be struck? white house correspondent brianna is traveling with the first family in honolulu, hawaii. hey, brianna, good morning. >> good morning, to you, it's been many silent nights actually in washington these days. not because there's nobody there to sort of figure out...
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Dec 28, 2012
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. >>> president obama summoning congressional leaders to the white house, 3:00 this afternoon is the date for one final fiscal cliff showdown. just four days left to get this deal done or massive tax hikes and spending cuts will kick in. >>> the u.s. embassy clearing out of an african nation this morning. deteriorating security in the central african republic has forced the u.s. state department to temporarily suspend operations. there the u.s. ambassador, his diplomatic team and some private american citizens are out of the capital. the country's president has asked france and the united states for help to stop rebels that threaten rule. >>> it's not clear who will replace lisa jackson as the head of the environmental protection agency. jackson announced yesterday she's stepping down in january after the president's state of the union address. the epa created new standards for air pollution from coal power plants on her watch. >>> massachusetts congressman ed ma markey throwing his hat into the ring for kerry's senate seat. a special election would be held early this summer. markey
. >>> president obama summoning congressional leaders to the white house, 3:00 this afternoon is the date for one final fiscal cliff showdown. just four days left to get this deal done or massive tax hikes and spending cuts will kick in. >>> the u.s. embassy clearing out of an african nation this morning. deteriorating security in the central african republic has forced the u.s. state department to temporarily suspend operations. there the u.s. ambassador, his diplomatic team...
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Dec 31, 2012
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president obama is modestly optimistic negotiations can prevent the tax hikes and spending cuts from kicking in. >> we don't yet see an agreement and now the pressure is on congress to produce. if they don't, what i have said is that in the senate, we should go ahead and introduce legislation that would make sure middle class taxes stay where they are and there should be an up or down vote. everybody should have a right to vote on that. if republicans don't like it, they can vote no. >> we're following the last-minute drama to avoid anything bad happening here. dana bash is covering the urgent talks in washington. ali velshi gives us the bottom li line. and alison kosik is on wall street watching how worried investors are reacting this hour. dana, we want to begin with you. we are hearing there might have been some progress overnight. >> a lot more optimism being expressed from sources in both parties. mitch mcconnell who the prime negotiator on the republican side just moments ago told reporters he spoke to the vice president, who is the prime negotiator now on the democrat side. so
president obama is modestly optimistic negotiations can prevent the tax hikes and spending cuts from kicking in. >> we don't yet see an agreement and now the pressure is on congress to produce. if they don't, what i have said is that in the senate, we should go ahead and introduce legislation that would make sure middle class taxes stay where they are and there should be an up or down vote. everybody should have a right to vote on that. if republicans don't like it, they can vote no....
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Dec 24, 2012
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. >> why have you been so consistently supportive of obama? >> i can't even imagine thinking about what would happen to the supreme court if a republican were the president. you know? i mean, citizens united is a horrible thing people can spend and waste this amount of money on elections? think of the people that could benefit from that money. >> there have been two elections since i have been in america. two elections where one party has had far more financial firepower. one was with meg whitman and one was with romney. the most money lost. what does that tell you? >> the people are getting smarter. they're going, i don't like this amount of money spent on this election. there should be a given -- campaign finance reform is very important. i hope somebody does something about it. you should have a given amount, equal amount, equal air time. that's it. you know? that idea of corporations being people, no, no. this is a country of, by and for the people. not of, by and for the corporation. you know? it's like because i'm so against gmos, the mo
. >> why have you been so consistently supportive of obama? >> i can't even imagine thinking about what would happen to the supreme court if a republican were the president. you know? i mean, citizens united is a horrible thing people can spend and waste this amount of money on elections? think of the people that could benefit from that money. >> there have been two elections since i have been in america. two elections where one party has had far more financial firepower. one...
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Dec 29, 2012
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it forces members of congress and president obama to spend the last few days of 2012 on the job. we want to bring in cnn chief white house correspondent, jessica yelen, we all know they would rather celebrate new year's eve elsewhere. how did they get here? >> reporter: it is such a good question, you know, candy, this grid lock in washington creates the eye-rolling. but the fundamental question goes to the essential differences between the two parties about the role of government, should it be bigger or smaller? about whether we want lower taxes or more of a social safety net. so while we have seen the principles, the president, speaker boehner, and now senator mcconnell and reid trying to get involved in stages in the last few weeks, it has always broken down because they fundamentally disagree about the big ideas over the core of this debate. they're fighting between the two parties. and this could get resolved in a matter of days or weeks. but the big difference, the issues could really take months to work out. >> can it be resolved in the matter of few enough days that they
it forces members of congress and president obama to spend the last few days of 2012 on the job. we want to bring in cnn chief white house correspondent, jessica yelen, we all know they would rather celebrate new year's eve elsewhere. how did they get here? >> reporter: it is such a good question, you know, candy, this grid lock in washington creates the eye-rolling. but the fundamental question goes to the essential differences between the two parties about the role of government, should...
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Dec 31, 2012
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and spending cuts. so there is a lot to be resolved here in the next few hours. >> too bad we only found out about this, you know, yesterday or the day before. 517 days they've had to work out the details and now we're talking about them all. brianna, we'll be busy today and may be ringing in the new year together. brianna keilar in washington. >>> a ball dropping in washington, a ball dropping in times square it looks like we'll go off the fiscal cliff. here's what it means to you. your paycheck will shrink. the payroll tax holiday is likely going away, for someone making $50,000 a year, it means $80 out of your paycheck. taxes will rise for 90% of americans by about 2,000 a year for those making between $40,000 and $60,000. making six figures? taxes go up by $13,000 if congress doesn't act. and the hit that families will take. four tax credits in danger of disappeared. four family tax credits, including earned income tax credit, close to $6,000 families for families making $50,000. american opportunit
and spending cuts. so there is a lot to be resolved here in the next few hours. >> too bad we only found out about this, you know, yesterday or the day before. 517 days they've had to work out the details and now we're talking about them all. brianna, we'll be busy today and may be ringing in the new year together. brianna keilar in washington. >>> a ball dropping in washington, a ball dropping in times square it looks like we'll go off the fiscal cliff. here's what it means to...
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Jan 1, 2013
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has president obama showed when his back support against the wall, he will cave? >> the president has been very strong in these negotiations. you have to keep in mind the republicans really did not want to tax more wealthy people in our society one dime. not a dime, and he's stuck with that. i consider myself a liberal and proud of it. we did not want an increase in t the age with regard to medicaid and cpi with regard to social security benefits. and the president was strong there, and i think he'll continue to be strong, and, you know, i notice a different president since he won this election, i think he is working very closely with congress, and, again, i -- often i'm -- i'm critical for congress for not coming to the table and compromising. critical for trends for saying my way or the highway. but at some point, we've got to take care of a lot of people like folks in my district, who through this deal will at least be able to get unemployment benefits, and a number of others that mean something to middle class families. >> are we setting up ourselves for fight
has president obama showed when his back support against the wall, he will cave? >> the president has been very strong in these negotiations. you have to keep in mind the republicans really did not want to tax more wealthy people in our society one dime. not a dime, and he's stuck with that. i consider myself a liberal and proud of it. we did not want an increase in t the age with regard to medicaid and cpi with regard to social security benefits. and the president was strong there, and i...
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Dec 28, 2012
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big spending cuts at the pentagon. and all the polls show that the republicans are going to be blamed for all of this. so obama -- as the one guy in this town that wants a deal more than anyone. on the other hand, he's probably the guy that purely political benefits the most after january 3rd satisfy in a stronger negotiating position. he'll also have, remember, a few more democrats in the house and in the senate. so the white house will be strengthened after this happens. but a lot of people in the white house and treasury department don't want that to happen because they think the markets may freak out. already the markets are reacting to the news within the last hour. yesterday the markets dipped a little bit on reid's comments in the senate. so they are worried about the economy. i think purely politically, obama will be strengthened once we go over. >> ryan lizza, thank very much. it's going to be an interesting couple of days. >> yeah, it sure is. >> thanks, ryan. >>> weapons of war on the streets of los angeles.
big spending cuts at the pentagon. and all the polls show that the republicans are going to be blamed for all of this. so obama -- as the one guy in this town that wants a deal more than anyone. on the other hand, he's probably the guy that purely political benefits the most after january 3rd satisfy in a stronger negotiating position. he'll also have, remember, a few more democrats in the house and in the senate. so the white house will be strengthened after this happens. but a lot of people...
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Dec 30, 2012
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the average family will end up spending $2,000 more if the fiscal cliff is not averted. let me show you something. you can find out how it would impact you directly by using this. there's a lot of numbers you have to plug in to make sense of it. obviously it can't be exact, it can't be precise, it can't predict the future, but i want to show you some examples we have pulled out. let's go to the graphic here that has a few of the examples we're showing you here. it would take, for example, this scenario, married with no children under the age of 65. if a couple in that instance is making about $57,000 a year, then according to the calculations, that couple would end up spending $2,262 more on taxes. that couple is high income earning, $106,000 for the income between the two of them, you're looking at more than $4,200 extra in taxes. a good example there of what we're looking at. i want to show you another example. there's something that might surprise you in the middle of this next one. i want to go to these numbers fast. if this is a couple that's married and has two you
the average family will end up spending $2,000 more if the fiscal cliff is not averted. let me show you something. you can find out how it would impact you directly by using this. there's a lot of numbers you have to plug in to make sense of it. obviously it can't be exact, it can't be precise, it can't predict the future, but i want to show you some examples we have pulled out. let's go to the graphic here that has a few of the examples we're showing you here. it would take, for example, this...
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Dec 29, 2012
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but mostly the other effect it has is that we're not cutting spending because we're spending too much money. and that sends a very bad signal. if we're not going to do entitlement reform, because every time we talk about it obama says, no, let's raise taxes instead, now we're dealing with tens of trillions of dollars of unfunded liabilities that were not -- for four years obama's done nothing on entitlement reform. nothing, nothing, nothing, for four years. a lot of golf. nothing on entitlement reform. what has he done? chirped about raising taxes on rich people. raising taxes on rich people is what obama talks about instead of doing his job. so it's -- there are two costs to this. one, if you take money out of savings and investment, which is what you're doing with this, it doesn't help, it reduces the incentives to save, invest, and work. and the other thing you do is you never get to reform government entitlements. >> that's not causal, though. >> it is, it is, absolutely. >> it's not. >> you live in new york. i live in d.c. >> yeah. >> washington. this is all causal. the reason he
but mostly the other effect it has is that we're not cutting spending because we're spending too much money. and that sends a very bad signal. if we're not going to do entitlement reform, because every time we talk about it obama says, no, let's raise taxes instead, now we're dealing with tens of trillions of dollars of unfunded liabilities that were not -- for four years obama's done nothing on entitlement reform. nothing, nothing, nothing, for four years. a lot of golf. nothing on entitlement...
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Dec 30, 2012
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president obama appeared today on nbc's "meet the press" and said the cuts in spending need to be fairly distributed. >> what i'm not willing to do is to have the entire burden of deficit reduction rest on the shoulders of seniors making students pay a higher student loan rates, ruining our capacity to invest in things like basic research that help our economy grow. >> in news overseas the bodies of the dead are being carried away in syria today. at least 397 people were killed saturday. that is the deadliest day so far in the 21-month long civil war. another 52 died today. the joint u.n. arab league envoy said the situation is rapidly deteriorating but that a solution is still possible. >>> in massachusetts boston's mayor lifted a snow emergency a little earlier today. more than a foot of snow fell on several towns across that state overnight. crews are clearing tons of snow in the gillette stadium now preparing for the patriots/dolphins game this afternoon. >>> keep it here as the clock ticks to the fiscal cliff. we are live on capitol hill and at the white house. plus we'll be back wi
president obama appeared today on nbc's "meet the press" and said the cuts in spending need to be fairly distributed. >> what i'm not willing to do is to have the entire burden of deficit reduction rest on the shoulders of seniors making students pay a higher student loan rates, ruining our capacity to invest in things like basic research that help our economy grow. >> in news overseas the bodies of the dead are being carried away in syria today. at least 397 people were...
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Jan 1, 2013
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refuses to concede that social security, medicare, medicaid are driving future spending and deficits. so when republicans make concessions on taxes they get little in return." are you set up for more confrontatio confrontation. >> i think we are set up for more confrontatioconfrontation. on september 30th, when the clock strikes, we'll be in the same position. the president has made concessions, put on the table reforms to the entitlement program. last year, we were close to a grand bargain. $4 trillion deficit reduction that would include major entitlement reforms. the president has done what he needs to do that's unfair criticism. >> what is lacking, congressman? what is the problem? it is a popular con serb tuf and -- conservative reefrain. where is the impasse in terms of being able to say here are what our priorities are as a party. >> the reason there hasn't been a budget since 2009 because of the filibuster rule in the house. the house under both democratic and republic lay can leadership been able to pass things. we haven't had the ability to come together. this wasn't necess
refuses to concede that social security, medicare, medicaid are driving future spending and deficits. so when republicans make concessions on taxes they get little in return." are you set up for more confrontatio confrontation. >> i think we are set up for more confrontatioconfrontation. on september 30th, when the clock strikes, we'll be in the same position. the president has made concessions, put on the table reforms to the entitlement program. last year, we were close to a grand...
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Dec 27, 2012
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more than just about obama and romney, it was about socialism and capitalism, about spending and cutting, about what kind of role government should have in your life. >> number one is the fiscal cliff. lawmakers saw it coming, but didn't bother to pay any attention to it, until after the election. had they put politics aside and dealt with it earlier, who knows how strong the u.s. economy would be right now. >> don't miss our "top 10 of 2012" special. cnn revisits the biggest stories of the year in money, crime, politics, and even scandals. that's cnn, sunday night, 8:00 eastern. >>> happening now, members of congress are called back to work with time running out to avoid the fiscal cliff. we'll meet one man who's reaching into his own pockets to help america ease its enormous debt. and we're learning how north korea deceived the world, to launch a rocket with the ability to strike the u.s. wolf blitzer is off. i'm candy crowley. you're in "the situation room." >>> on the surface, you might think there's new movement toward avoiding the fiscal cliff that starts making an impact just five
more than just about obama and romney, it was about socialism and capitalism, about spending and cutting, about what kind of role government should have in your life. >> number one is the fiscal cliff. lawmakers saw it coming, but didn't bother to pay any attention to it, until after the election. had they put politics aside and dealt with it earlier, who knows how strong the u.s. economy would be right now. >> don't miss our "top 10 of 2012" special. cnn revisits the...
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Dec 24, 2012
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. >> why have you been so consistent in your support of obama? is >> i can't even imagine thinking about what would happen to the supreme court if a republican were the president. i mean, citizens united is a horrible thing that people can spend and waste this amount of money on elections. think of all the people that could be benefit -- could benefit from that money. >> there have been two elections since i've been in america. there have been two elections where one party has had far more financial power than the other. one was here in california with meg whitman, and one was nationally. romney clearly had more money than obama for most of that campaign, and in both cases, the one with the most money lost. >> isn't that great? >> what does that tell you about the american people? >> the people are getting smarter. they're going, i don't like all this amount of money spent on this election. campaign finance reform is very important, and i hope somebody does something about it. you should have a given amount, equal amount, equal air time, and that
. >> why have you been so consistent in your support of obama? is >> i can't even imagine thinking about what would happen to the supreme court if a republican were the president. i mean, citizens united is a horrible thing that people can spend and waste this amount of money on elections. think of all the people that could be benefit -- could benefit from that money. >> there have been two elections since i've been in america. there have been two elections where one party has...
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i listened to the gentleman who said president obama won the election so he should get his way, but the republicans say, look, we won the house. i do want to see a deal done. and by the way, i don't want to see taxes go up, ali. you know that. i think it's bad for the economy -- >> but you also generally agree if there was going to be a deal, they're going to go up on some people. >> yeah. look, taxes are probably going to go up on the rich because president obama did -- you know, he went around the country saying if he was re-elected, that's what he would do. but, you know, as i told you many times, even if we don't get a deal here in the next 24 hours, this is not thelma and louise. this is a slope, not a cliff that's going to cause a crash in the economy. i do think it looks bad for the country. it's beneath us to go into this new year not knowing what the tax code is going to look like, what kind of spending cuts will go in. this is politics at its very lowest. >> let's talk about a week ago one of the things that you and i both thought shall i thought it was a bit cynical that john
i listened to the gentleman who said president obama won the election so he should get his way, but the republicans say, look, we won the house. i do want to see a deal done. and by the way, i don't want to see taxes go up, ali. you know that. i think it's bad for the economy -- >> but you also generally agree if there was going to be a deal, they're going to go up on some people. >> yeah. look, taxes are probably going to go up on the rich because president obama did -- you know,...
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Dec 27, 2012
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. >> they could have had a more popular message about cutting deficit spending, right? >> the truth is they would have been a lot better off taking the deal that boehner was negotiating with president obama way back when. it was a better deal all the way around. they missed that moment. but i think the real thing is who pays the price. the people who are going to pay the price are the americans, the middle class. this is crazy. it's nuts to be putting us through this. >> all of the focus on tax cuts. but the revenue from increasing the taxes on the wealthy will barely make a debt in the deficit to say nothing of the trillions in debt we're talking about. is this just a symbolic fight this the president is determined to win off his election? >> it's not symbolic. there will be money raised if the taxes are left to expire. but let me just bring up a point. no democrat and certainly not this president has said there should be no spending cuts. on the contrary this president has put on the table an extraordinary amount of spending cuts to the chagrin of many democrats i mig
. >> they could have had a more popular message about cutting deficit spending, right? >> the truth is they would have been a lot better off taking the deal that boehner was negotiating with president obama way back when. it was a better deal all the way around. they missed that moment. but i think the real thing is who pays the price. the people who are going to pay the price are the americans, the middle class. this is crazy. it's nuts to be putting us through this. >> all...
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Dec 26, 2012
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more than just about obama and romney, it was about socialism and capitalism, spending and cutting, about what kind of role government should have in your life. >> number one is the fiscal cliff. lawmakers saw it coming but didn't bother to pay any attention to it until after the election. had they put politics aside and dealt with it earlier, who knows how strong the u.s. economy would be right now. >>> next, scandal. can you guess who made our list because of bad behavior? questions? anyone have occasional constipation, diarrhea, gas, bloating? yeah. one phillips' colon health probiotic cap each day helps defend against these digestive issues with three strains of good bacteria. approved! [ female announcer ] live the regular life. phillips'. [ female announcer ] live the regular life. to the best vacation sp(all) the gulf! it doesn't matter which of our great states folks visit. mississippi, alabama, louisiana or florida, they're gonna love it. shaul, your alabama hospitality is incredible. thanks, karen. love your mississippi outdoors. i vote for your florida beaches, dawn. bill, this
more than just about obama and romney, it was about socialism and capitalism, spending and cutting, about what kind of role government should have in your life. >> number one is the fiscal cliff. lawmakers saw it coming but didn't bother to pay any attention to it until after the election. had they put politics aside and dealt with it earlier, who knows how strong the u.s. economy would be right now. >>> next, scandal. can you guess who made our list because of bad behavior?...
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more than just about obama and romney, it was about socialism and capitalism and spending and cutting and what kind of role government should have in your life. >> number one is the fiscal cliff. lawmakers saw it coming and didn't bother to pay any attention to it until after the election. had they put politics aside and dealt with it earlier, who knows how strong the u.s. economy would be right now. >> and make sure you join me for the biggest stories of the year in crime, politic, money and the most scandalous stories. the top ten of 2012, 8:00 eastern. a teen battling a terminal illness uses lyrics instead of letters to say goodbyes. >> it's kind of me always being there for him. like if they keep singing that song throughout their life, it will be worth it. >> this teen's final wish, next. s that will make it drop over, and over again. ♪ from jammin' jerk chicken, to creamy gouda bisque. see what's new from campbell's. it's amazing what soup can do. with less chronic osteoarthritis pain. imagine living your life with less chronic low back pain. imagine you, with less pain. cymba
more than just about obama and romney, it was about socialism and capitalism and spending and cutting and what kind of role government should have in your life. >> number one is the fiscal cliff. lawmakers saw it coming and didn't bother to pay any attention to it until after the election. had they put politics aside and dealt with it earlier, who knows how strong the u.s. economy would be right now. >> and make sure you join me for the biggest stories of the year in crime, politic,...
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more than just about obama and romney, it was about socialism and capitalism, spending and cutting, about what kind of role government should have in your life. >> number one is the fiscal cliff. lawmakers saw it coming but didn't bother to pay any attention to it until after the election. had they put politics aside and dealt with it earlier, who knows how strong the u.s. economy would be right now. >>> next, scandal. can you guess who made our list because of bad behavior? >>> i'm victor blackwell at cnn world headquarters in atlanta. here's what's happening tonight. we're starting with this major christmas storm that's creating big problems right now across the south. look at this. it's a large tornado touching down earlier in mobile, alabama. there are reports of damage and tens of thousands without power. this extreme weather is moving towards the east coast. we'll bring you another update in the next hour. >>> new details tonight in the christmas eve ambush that took the lives of two firefighters. william spangler shot the men to death as they responded to an early-morning fire in w
more than just about obama and romney, it was about socialism and capitalism, spending and cutting, about what kind of role government should have in your life. >> number one is the fiscal cliff. lawmakers saw it coming but didn't bother to pay any attention to it until after the election. had they put politics aside and dealt with it earlier, who knows how strong the u.s. economy would be right now. >>> next, scandal. can you guess who made our list because of bad behavior?...
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obama's comments angered republicans. so i think they're back in the negotiating room, republicans pushing harder on the spending cuts side. that's what we've seen through the the day. >> ali, based on my years of covering washington, the longer there's no final vote in the senate and house, the more likely this whole thing could collapse. >> yeah. gives everybody a chance to think it through. this is kind of the contradiction in this whole thing. when you think back to the debt ceiling deal, you think back to the government shutdown. these are all eleventh hour deals. we've become accustomed to doing things before the deadline. there's some sense of urgency. what you've heard throughout the day is we don't like that the white house, that they're moving toward a higher threshold on taxes. the longer it doesn't get done, the more people say let's take a harder line yet. i like you wolf, we're going to sit here until it happens. i'm not sure it's going to happen. there are still some remarkable philosophical differences. a
obama's comments angered republicans. so i think they're back in the negotiating room, republicans pushing harder on the spending cuts side. that's what we've seen through the the day. >> ali, based on my years of covering washington, the longer there's no final vote in the senate and house, the more likely this whole thing could collapse. >> yeah. gives everybody a chance to think it through. this is kind of the contradiction in this whole thing. when you think back to the debt...
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and the democrats to spend while reining is in. >> i'm not sure how effectively they use it. 517 days ago and that's why we're in the mess we are in. >> i want to show you marginal tax rates around the world. highest tax rate people pay on the marginal money they earn. when we talk about increasing taxes, we talk about increasing it above a threshold. the united states is not the highest on the list. the united kingdom is on this list and this isn't all the countries out there. both canada and germany have higher marginal tax rates than the yits does. germany and canada have borrowing rates about the same as the united states and have higher home ownership rates. they have health care and education paid for. great life satisfaction in those places and strong economies. what's the argument if we increase the tax rates on the richest americans, we're somehow going to have economic catastrophe. >> ali, as you know when people pay taxes, they not only pay it at the individual level, but capital gains and other taxes, first you earn money and then you invest it in companies and if you take
and the democrats to spend while reining is in. >> i'm not sure how effectively they use it. 517 days ago and that's why we're in the mess we are in. >> i want to show you marginal tax rates around the world. highest tax rate people pay on the marginal money they earn. when we talk about increasing taxes, we talk about increasing it above a threshold. the united states is not the highest on the list. the united kingdom is on this list and this isn't all the countries out there. both...
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>>> we told you last hour president obama is spending his last few hours in hawaii before returng early to washington. he's expected to arrive tomorrow, just five days ahead of the fiscal cliff, which includes an across the board tax hike that congress has tried but failed to undo. cnn's dana bash is with us from washington, our senior congressional correspondent. we spoke last hour. you told us that hour speaker john boehner was to convene this conference call to decide whether or not to call the house back into session. we know the senate is supposed to convene, but nothing can, of course, take place until the house is in session as well. do we know the results of that conference call? will boehner reconvene the house? >> reporter: i'm told by a source familiar with the call, which just happened within last hour, as you said, that no decision was made on the schedule or timing for the house. as we talked about an hour ago, the leaders in the house have promised the members that they won't be called back without 48 hours notice. so at this point it is wednesday afternoon, they won't ev
>>> we told you last hour president obama is spending his last few hours in hawaii before returng early to washington. he's expected to arrive tomorrow, just five days ahead of the fiscal cliff, which includes an across the board tax hike that congress has tried but failed to undo. cnn's dana bash is with us from washington, our senior congressional correspondent. we spoke last hour. you told us that hour speaker john boehner was to convene this conference call to decide whether or not...
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under president bush and president obama. and i think republicans ask for less than they should have, we're going to have to ask for more in the way of spending cuts because once we do this very small, large increase on the wealthy, but small amount of revenue, we have to come back again. and i think the middle class has to understand that you can only get so much from the rich when they're already going to be paying over 55% on their ordinary income come next year, at least in my state of california. there is going to be a limit how much you can do. ultimately all taxes end up being paid disproportionately for the middle class. >> are you going to vote for this? >> i haven't seen the bill yet. >> would you vote for tax increases or tax cuts up to 450,000? >> i said aultimately i'll finda way to support something to bring to the american people. i think this bill will have too few cuts and will depend on a small amount of people that candidly don't represent enough money to bring a real fix to our trillion dollar deficit. >>
under president bush and president obama. and i think republicans ask for less than they should have, we're going to have to ask for more in the way of spending cuts because once we do this very small, large increase on the wealthy, but small amount of revenue, we have to come back again. and i think the middle class has to understand that you can only get so much from the rich when they're already going to be paying over 55% on their ordinary income come next year, at least in my state of...
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president obama flies back from hawaii tonight to be ready if the senate comes back with a plan when it returns to work tomorrow. and house leaders are huddling with members on stand-by to return. senior congressional correspondent dana bash is following all of it for us. what are you hearing? >> there was a conference call of course members of the house leadership even, they're back in their districts, but there was a conference call today among those house republican leaders trying to figure out if and when the house should come back into session. two republican sources tell me they did not make a decision on this call. it's still up in the air. and a big reason for that is if anything can get done in the next six days, the ball is in the senate's court. the capitol is a ghost town. neither chamber in session. an eerie calm since the fiscal cliff only congress has the power to avert is less than one week away. from their home, senate democratic leaders is trying to figure out if the president's scaled back bill can pass congress at the 11th hour. >> there is absolutely no reason, n
president obama flies back from hawaii tonight to be ready if the senate comes back with a plan when it returns to work tomorrow. and house leaders are huddling with members on stand-by to return. senior congressional correspondent dana bash is following all of it for us. what are you hearing? >> there was a conference call of course members of the house leadership even, they're back in their districts, but there was a conference call today among those house republican leaders trying to...